Siriuspoint Ltd ( (SPNT) ) has released its Q4 earnings. Here is a breakdown of the information Siriuspoint Ltd presented to its investors.
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SiriusPoint Ltd is a global insurance and reinsurance company headquartered in Bermuda, known for its comprehensive underwriting and strategic partnerships with Managing General Agents and program administrators.
SiriusPoint’s latest earnings report reveals a notable achievement with its ninth consecutive quarter of underwriting profits, despite facing challenges in the insurance landscape. The company reported a Core combined ratio of 91.0% for the full year 2024, reflecting a strong underwriting performance.
Key financial highlights include a 10% growth in gross premiums written for the year, and an underlying return on equity of 14.6%, which is at the upper end of the target range. However, the company reported a net loss of $21 million in the fourth quarter, attributed to significant restructuring efforts, including transactions with CM Bermuda and Enstar. Despite these setbacks, the underlying net income for the year was $304 million, a 14% increase from the prior year.
Looking forward, SiriusPoint’s management remains optimistic about the company’s trajectory. With the reshaping efforts now complete, the company is set to focus on growth and enhanced performance in 2025, building on the strengthened business foundation established in 2024.
